Correlation Between New Amer and Sutimco International
Can any of the company-specific risk be diversified away by investing in both New Amer and Sutimco International at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining New Amer and Sutimco International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between New Amer Energy and Sutimco International, you can compare the effects of market volatilities on New Amer and Sutimco International and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in New Amer with a short position of Sutimco International. Check out your portfolio center. Please also check ongoing floating volatility patterns of New Amer and Sutimco International.
Diversification Opportunities for New Amer and Sutimco International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between New and Sutimco is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding New Amer Energy and Sutimco International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sutimco International and New Amer is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on New Amer Energy are associated (or correlated) with Sutimco International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sutimco International has no effect on the direction of New Amer i.e., New Amer and Sutimco International go up and down completely randomly.
Pair Corralation between New Amer and Sutimco International
If you would invest 0.01 in Sutimco International on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Sutimco International or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
New Amer Energy vs. Sutimco International
Performance |
| Timeline |
| New Amer Energy |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Sutimco International |
New Amer and Sutimco International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with New Amer and Sutimco International
The main advantage of trading using opposite New Amer and Sutimco International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if New Amer position performs unexpectedly, Sutimco International can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Sutimco International will offset losses from the drop in Sutimco International's long position.| New Amer vs. Cosmos Group Holdings | New Amer vs. CYIOS | New Amer vs. Mill City Ventures | New Amer vs. Finance of America |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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